On June 6, 2025, at the invitation of Chen Yong, a representative of the National People's Congress in the Hong Kong area and a member of the Hong Kong Legislative Council, the Hong Kong Anti-Money Laundering Alliance (HKAML) and its member organizations entered the Hong Kong Legislative Council to engage in a special discussion on the revision of the Stablecoin Bill and the construction of the AML system in the Web3 era. The Mankun Law Firm, as a member of the alliance, was invited to visit and participate in the discussion.
The meeting was chaired by Chen Yong, and the Hon Chan Chun-ying, a Hong Kong deputy to the National People's Congress and Chairman of the Finance Committee of the Hong Kong Legislative Council, attended the exchange meeting. The alliance has demonstrated its unique advantages in promoting Hong Kong's integration with international standards and promoting compliance innovation, and has laid a solid foundation for building multi-party cooperation with legislative, law enforcement and regulatory authorities in the future.
Deng Zhenlong, the representative of the 12th and 13th National People's Congress, also attended the meeting and delivered a speech, affirming Hong Kong's strategic position in promoting international financial compliance and the construction of the AML system, and expressing expectations for the alliance to play a bridging and innovative leading role in the future.
During the conference, representatives of alliance members held in-depth discussions on key topics such as stablecoins and AML. Zhang Chuantao, the chairman of the Hong Kong AML Alliance, delivered a speech introducing the alliance's latest progress and strategic direction in promoting cross-border compliance collaboration and enhancing financial security in Hong Kong, and expressed gratitude to several members of the Legislative Council and various sectors for their concern and support for the alliance's work.
As a member of the alliance, the Mankun Law Firm sent representatives to participate in this Legislative Council exchange, including Bai Zhen, head of the Mankun Hong Kong office, Shao Jiadian, partner at Mankun Shenzhen, and senior lawyer and blockchain technology expert Wan Zhengyu among others attending the meeting. In his speech, lawyer Wan Zhengyu stated: As a law firm focused on Web3.0 legal services, Mankun has always paid close attention to Hong Kong's legislative progress in stablecoin regulation and digital asset compliance. We firmly believe that Hong Kong has unique advantages in institutional innovation and integration with international standards, and is becoming an important rule-maker in global digital finance.
This event marks the first time blockchain technology experts have entered the Hong Kong Legislative Council in a professional capacity to engage in legislative exchanges, highlighting the legislative body's emphasis on the collaborative path between cutting-edge technology and regulation, and providing the industry with a window for institutional participation.
This event fully reflects the value of the Hong Kong Anti-Money Laundering Alliance as a professional compliance platform in the private sector, and will continue to contribute intellectual support and mechanism innovation to the regulation of stablecoins in Hong Kong, especially in promoting the "Mainland and Hong Kong Compliance Linkage Mechanism" and formulating the "Industry Disposal Standardization Plan" to demonstrate unique advantages.
In the future, Mankun Law Firm will continue to uphold the mission of "ensuring the legal occurrence of Web 3.0 in China," deepen communication and cooperation with alliances and all sectors, actively participate in compliance training, industry standard formulation, and cross-border collaboration mechanism construction, contributing to the healthy development of the digital economy with a "legal + technology" composite professional force.
AML Alliance:
The Hong Kong Anti-Money Laundering Alliance (HKAML) is positioned as a non-profit international compliance cooperation platform dedicated to building an innovative compliance ecosystem that integrates "technical standards + data collaboration + capacity building," fully supporting Hong Kong in consolidating its core position as an international financial security hub.
[AML Alliance Work Direction]
Promote legislative collaboration: Deeply participate in the improvement and coordination of Hong Kong's stablecoin and AML-related laws and regulations.
Deepen data and technology cooperation: Focus on innovating KYC and compliance data services.
Build industry benchmarks: Promote compliance innovation pilot projects, establish and promote industry best practice cases.
Empowering the industry and international exchanges: Organize professional compliance training and build a high-end platform for international policy discussions.
/END.
Author of this article: Mankun Brand Department
View Original
The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
Mankun Dynamics | Mankun Law Firm visits the Hong Kong Legislative Council as a member of the Hong Kong AML Alliance.
On June 6, 2025, at the invitation of Chen Yong, a representative of the National People's Congress in the Hong Kong area and a member of the Hong Kong Legislative Council, the Hong Kong Anti-Money Laundering Alliance (HKAML) and its member organizations entered the Hong Kong Legislative Council to engage in a special discussion on the revision of the Stablecoin Bill and the construction of the AML system in the Web3 era. The Mankun Law Firm, as a member of the alliance, was invited to visit and participate in the discussion. The meeting was chaired by Chen Yong, and the Hon Chan Chun-ying, a Hong Kong deputy to the National People's Congress and Chairman of the Finance Committee of the Hong Kong Legislative Council, attended the exchange meeting. The alliance has demonstrated its unique advantages in promoting Hong Kong's integration with international standards and promoting compliance innovation, and has laid a solid foundation for building multi-party cooperation with legislative, law enforcement and regulatory authorities in the future. Deng Zhenlong, the representative of the 12th and 13th National People's Congress, also attended the meeting and delivered a speech, affirming Hong Kong's strategic position in promoting international financial compliance and the construction of the AML system, and expressing expectations for the alliance to play a bridging and innovative leading role in the future.
During the conference, representatives of alliance members held in-depth discussions on key topics such as stablecoins and AML. Zhang Chuantao, the chairman of the Hong Kong AML Alliance, delivered a speech introducing the alliance's latest progress and strategic direction in promoting cross-border compliance collaboration and enhancing financial security in Hong Kong, and expressed gratitude to several members of the Legislative Council and various sectors for their concern and support for the alliance's work.
As a member of the alliance, the Mankun Law Firm sent representatives to participate in this Legislative Council exchange, including Bai Zhen, head of the Mankun Hong Kong office, Shao Jiadian, partner at Mankun Shenzhen, and senior lawyer and blockchain technology expert Wan Zhengyu among others attending the meeting. In his speech, lawyer Wan Zhengyu stated: As a law firm focused on Web3.0 legal services, Mankun has always paid close attention to Hong Kong's legislative progress in stablecoin regulation and digital asset compliance. We firmly believe that Hong Kong has unique advantages in institutional innovation and integration with international standards, and is becoming an important rule-maker in global digital finance. This event marks the first time blockchain technology experts have entered the Hong Kong Legislative Council in a professional capacity to engage in legislative exchanges, highlighting the legislative body's emphasis on the collaborative path between cutting-edge technology and regulation, and providing the industry with a window for institutional participation.
This event fully reflects the value of the Hong Kong Anti-Money Laundering Alliance as a professional compliance platform in the private sector, and will continue to contribute intellectual support and mechanism innovation to the regulation of stablecoins in Hong Kong, especially in promoting the "Mainland and Hong Kong Compliance Linkage Mechanism" and formulating the "Industry Disposal Standardization Plan" to demonstrate unique advantages. In the future, Mankun Law Firm will continue to uphold the mission of "ensuring the legal occurrence of Web 3.0 in China," deepen communication and cooperation with alliances and all sectors, actively participate in compliance training, industry standard formulation, and cross-border collaboration mechanism construction, contributing to the healthy development of the digital economy with a "legal + technology" composite professional force.
AML Alliance: The Hong Kong Anti-Money Laundering Alliance (HKAML) is positioned as a non-profit international compliance cooperation platform dedicated to building an innovative compliance ecosystem that integrates "technical standards + data collaboration + capacity building," fully supporting Hong Kong in consolidating its core position as an international financial security hub. [AML Alliance Work Direction]
/END. Author of this article: Mankun Brand Department